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  • SEC extends recapitalisation deadline for market operators

    The Securities and Exchange Commission has extended the deadline for the recapitalisation of capital market operators by nine months to September 30, 2015. The commission made this known in a notice on Monday, citing recent economic developments...

    • Posted December 31, 2014
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  • Naira appreciates against dollar at Forex markets

    The  naira appreciated against the dollar at the bureau de change and parallel markets yesterday. A survey conducted by the News Agency of Nigeria (NAN) in Lagos showed that naira traded at between N191 and N190 respectively...

    • Posted December 31, 2014
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  • Currency-in-circulation drops to N1.534trillion

    The Central Bank of Nigeria (CBN) has disclosed that currency-in-circulation declined by 0.9 per cent on month-on-month basis to N1.534 trillion in October. This  is in contrast to the growth of 3.1 per cent recorded at the...

    • Posted December 31, 2014
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  • Skye Bank appoints Interim MD for Mainstreet Bank

    Skye Bank Plc has appointed Mrs. Amaka Onwughalu as the interim Managing Director for Mainstreet Bank Limited. Skye Bank recently acquired Mainstreet Bank from the Asset Management Corporation of Nigeria (AMCON). The bank in  notified the  Nigerian...

    • Posted December 31, 2014
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  • NITEL creditors to share N45bn sales proceeds

    Creditors owed about N300bn by the Nigerian Telecommunications Limited will have to share the $252m (about N45.36bn) that was offered by the prospective investor in the company and its mobile subsidiary, the Nigerian Mobile Telecommunications Limited, investigation...

    • Posted December 31, 2014
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  • Crazy bills: NERC gives excuses for not penalising power firms

    Electricity distribution companies across the country may continue to extort money from their customers through ‘crazy bills’ as the Nigerian Electricity Regulatory Commission has said that it is difficult to penalise the errant firms. According to the...

    • Posted December 31, 2014
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  • Nine ships arrive with petrol at Lagos Ports

    The Nigerian Ports Authority (NPA) on Monday said nine ships laden with petrol had arrived Lagos ports, waiting to discharge. The NPA stated this in its daily publication, ‘Shipping Position’, made available to the News Agency of...

    • Posted December 31, 2014
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  • Nigerian equities rally to best 6-day gain since 1998

    The Nigerian Equities market continued with its rally monday, recording the sixth consecutive gain with the benchmark index rising 0.68 per cent to close at  34,663.92, while market capitalisation stood at N11.479 trillion. The performance is regarded...

    • Posted December 31, 2014
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  • LCCI predicts double-digit inflation for 2015

    The Lagos Chamber of Commerce and Industry says it expects the country’s inflation rate to cross the double-digit mark in the first half of 2015 as the combined austerity measures introduced by the government and tighter monetary...

    • Posted December 30, 2014
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  • N183.7bn in treasury bills to mature this week

    The banking system is expected to receive a boost in liquidity as treasury bills worth N183.73 billion are expected to mature this week. This, is expected to also help in moderating interbank rates during the week. Meanwhile,...

    • Posted December 30, 2014
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  • Rockefeller Foundation partners IFC on infrastructure development

    The Rockefeller Foundation and the International Finance Corporation (IFC), a member of the World Bank Group have concluded plans to launch a project development facility aimed at unlocking private sector investment for infrastructure that helps build resilience...

    • Posted December 30, 2014
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  • Energy conservation can save Nigeria N400bn – Nebo

    The use of energy efficient bulbs and judicious power consumption can save the country N400bn, the Federal Government has said. It said if Nigerians embraced the use of energy efficient lightings, the country would have over 1,000...

    • Posted December 30, 2014
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  • The affluent do not pay tax in Nigeria – NLC

    In spite of the introduction of austerity measures by the federal government, the Organised Labour has said the rich have continued to evade tax. The General Secretary of the Nigeria Labour Congress (NLC), Mr. Peter Ozo-Eson, said...

    • Posted December 30, 2014
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  • N40bn lost yearly as smugglers, phoney investors hijack backward integration policy on rice

    Nigeria may be losing not less than N40 billion annually in the rice segment of the agricultural sector due to the activity of smugglers and individuals pretending to be investing in the local production  and processing of...

    • Posted December 30, 2014
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